the act of masturbating.
" Man when i got home last night my girl fell asleep so i ended up punching the angry elf."
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ace in the hole can be a term used to describe transvestites
Tom: Did you bang that chic from last night?
Bob:Nah she was a he, had an ace in the hole.
"That chic i went home last night was really a dude."
"Ah, an ace in the hole."
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